This website uses cookies to ensure you get the best experience on our website

Technical Analysis for XRPUSD for 20th June 2022

Ripple Adds 5%, XRP in Range Below $0.35

Past Performance of XRP

There are fundamental factors to support XRP prices in the medium term. However, the coin is under pressure like the rest of the crypto market. XRP prices are within a breakout pattern, following losses below the bear flag. Although there is a print higher from 2022 lows at $0.28, bears still have a chance and could force the coin lower. XRP is currently up six percent versus the USDT on the previous trading day.

Ripple Technical Analysis

XRP prices are under pressure, and the bear trend is defined as per the formation in the daily chart. Going forward, risk-averse traders can wait for a conclusive, high volume recovery above $0.35 before loading the dips, targeting $0.37 and $0.40 as prices bottom up. Conversely, a break below $0.28 and last week's lows may force XRP lower in a bear continuation pattern confirming losses of May 11 and June 11.

What to Expect from XRP

Sellers are dominant despite the pullback at press time. XRP prices are consolidating within a $0.07 trade range with caps at $0.35 to the upside and $0.28 on the lower end. A breakout below $0.28 confirms sellers and may mark the beginning of another flashing leg down.

Resistance level to watch: $0.35

Support level to watch: $0.28

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020